How To Claim Your Inheritance While It’s Going Through Probate In Illinois

Have you been recently named a beneficiary in a will? There is work to be done before you can claim your inheritance while it’s going through probate in Illinois. The first step is to understand the probate process. But don’t worry; we are here to help you through the probate process.

Understanding Probate In Illinois

The probate process can be confusing if you have never been through it. Plus, things can get tricky depending on the estate size and how many beneficiaries are in the will. Before you claim your inheritance, there are some things you should keep in mind: 

• Does the executor have your current contact information?
  You’ll want the executor to be able to send you the legal paperwork you need to claim your inheritance.
• How long does probate take?
  Probate can take anywhere from 6 – 12 months before the beneficiaries receive their payouts.
• Is the will being contested?
  Any person can contest the will. If the will is invalid, your inheritance may change, or the courts can deny it.
• Do you need to make tax plans?
  Illinois does not have an inheritance tax, but you may have to claim the money as income.

It can be confusing to go through probate in Illinois. That is why working with an experienced probate attorney who can explain and help you with each step is important.

Steps To Close An Estate

Closing an estate and dividing a person’s assets is a formal legal process. You may not have to worry about each step if you are not the family or executor. But it’s good to understand the steps of probate to understand how to claim your inheritance.

1. Authenticate the Will (if there is one)
2. Handle disputes
3. Appoint an executor (if they didn’t name one)
4. Inventory all assets and their value
5. Inform creditors and pay the debt from the estate money
6. File final tax return
7. Distribute assets

As you can see, distributing the assets is the final step of the probate process. This is why it can take time before the assets are divided among the beneficiaries. Giving the executor your contact information will make it easier to claim your inheritance. If you are receiving money, a check will be written from the estate after all debts and taxes are paid.

Cook County Probate Lawyer

Do you have questions about Illinois probate? If so, an experienced probate lawyer can advise you on the best options for your situation. To talk to a qualified probate attorney in Chicago, contact the Estate & Probate Legal Group at 630-864-5835. 

Areas We Serve: Cook, Dupage, Kane, Lake and Will counties.